Unum’s income increased in second quarter

Disability insurer Unum Group reported a 3.4 percent increase in net income compared with a year earlier in its second quarter earnings.

The report, released Thursday by the Chattanooga-based company, showed a net income of $245.1 million for the second quarter of 2017, compared to net income of $236.8 million for the second quarter of 2016. After-tax operating income also rose 3.0 percent for the same period.

“Our second quarter results were very strong, with a good balance of top line growth, solid earnings growth, and return of capital to shareholders,” said Richard P. McKenney, president and CEO, in a prepared statement.

Unum employs about 3,000 people in Maine.

The news prompted the company to revise its outlook for the year. Its 2017 expectation for after-tax operating income growth per share was increased to a range of 5 percent to 8 percent, up from the previous range of 3 percent to 6 percent.

Its earnings per share of $1.05 beats analysts’ projections by 4 cents.

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